Home » General » IDC set to invest $10-million in Congolese tin project

IDC set to invest $10-million in Congolese tin project

January 28, 2016

TSX-V-listed mineral exploration company Alphamin Resources has entered into an agreement with South Africa’s State-owned development finance institution the Industrial Development Corporation(IDC) pursuant to which the IDC will invest up to $10-million directly in Alphamin Bisie Mining (Alphamin DRC), the Democratic Republic of Congo (DRC) operating subsidiary of Alphamin. The investment will be paid in three tranches, subject to the completion of certain milestones. Upon investment of the full amount, the IDC will hold 15% of the class A shares of Alphamin DRC or 14.25% of Alphamin DRC as a whole.

Home » General » IDC set to invest $10-million in Congolese tin project

IDC set to invest $10-million in Congolese tin project

January 28, 2016

TSX-V-listed mineral exploration company Alphamin Resources has entered into an agreement with South Africa’s State-owned development finance institution the Industrial Development Corporation(IDC) pursuant to which the IDC will invest up to $10-million directly in Alphamin Bisie Mining (Alphamin DRC), the Democratic Republic of Congo (DRC) operating subsidiary of Alphamin. The investment will be paid in three tranches, subject to the completion of certain milestones. Upon investment of the full amount, the IDC will hold 15% of the class A shares of Alphamin DRC or 14.25% of Alphamin DRC as a whole.